Par Technology Corporation · NYSE:PAR
Par Technology — Q1 2023 Earnings Presentation
19 slides from Par Technology's earnings presentation, May 10, 2023
Slide 1: Q1 '23 Earnings Presentation
Q1 ‘23 Earnings Presentation May 10, 2023 NYSE: PAR
Slide 2: Forward-Looking Statements. Industry and Market Data.
Forward-Looking Statements. Industry and Market Data. This presentation contains forward-looking statements within the meaning of Section 21E of the Market, industry, and other data included in this presentation are from or based on our own Securities Exchange Act of 1934, as amended, Section 27A of
Slide 3: A little about us...
A little about us...
Slide 4: To enable personalized experiences that connect people to brands
To enable personalized experiences that connect people to the brands, meals, and moments they love. eS aS ee...
Slide 5: Our Journey … Thus Far ...
Our Journey … Thus Far ... $115.9M Q1 2023 Please see Appendix A – Key Performance Indicators for more information on ARR 5
Slide 6: Building a Unified Experience
Building a Unified Experience 6
Slide 7: Financial Review: First Quarter 2023 Highlights
Financial Review First Quarter 2023 Highlights
Slide 8: Q1 '23 Financials
Q1 ‘23 Financials Three Months Ended March 31, 2023 in thousands 2023 2022 Revenues, net: Hardware $ 26,777 $ 25,073 Consolidated Highlights Subscription service 27,965 21,285 Professional service 13,842 12,488 Contract 31,853 21,439 • 25% increase in revenue from Q1 2022 Total revenues net 100,437
Slide 9: Quarterly KPI Trends: Guest Engagement
Quarterly KPI Trends Guest Engagement (Punchh + MENU) ARR ($‘000,000) Active Sites (‘000) 18% 16% Y/Y Growth Y/Y Growth Year-over-year metrics are for the quarter ended 3/31/2023 compared to the quarter ended 3/31/2022. Please see Appendix A — Key Performance Indicators for more information on ARR a
Slide 10: Quarterly KPI Trends: Operator Solutions
Quarterly KPI Trends Operator Solutions (Brink POS + PAR Payment Services + PAR Pay) ARR ($‘000,000) Active Sites (‘000) 27% 21% Y/Y Growth Y/Y Growth Year-over-year metrics are for the quarter ended 3/31/2023 compared to the quarter ended 3/31/2022. Please see Appendix A — Key Performance Indicator
Slide 11: Quarterly KPI Trends: Back Office
Quarterly KPI Trends Back Office (Data Central) ARR ($‘000,000) Active Sites (‘000) 30% 18% Y/Y Growth Y/Y Growth Year-over-year metrics are for the quarter ended 3/31/2023 compared to the quarter ended 3/31/2022. Please see Appendix A — Key Performance Indicators for more information on ARR and Act
Slide 12: Annual KPI Trends: Subscription Services
Annual KPI Trends Subscription services Adjusted Subscription ARR ($‘000,000) Service Gross Margin(1) 82% 17% CAGR CAGR (3) (2) (3) (1) Adjusted Subscription Service Gross Margin is a non-GAAP financial measure. Please see Appendix A for a detailed reconciliation to Subscription Service Gross Margin
Slide 13: Annual KPI Trends: Hardware
Annual KPI Trends Hardware Hardware Revenue ($'000,000) 25% CAGR • Proving value of a complete tech stack • Navigating difficult/challenging supply chain environment (1) (1) YTD' 23 hardware revenue is for the three months ended March 31, 2023 CAGR stands for Compounded Annual Growth Rate. 13
Slide 14: Appendix A
Appendix A
Slide 15: Adjusted Subscription Gross Margin Non-GAAP Reconciliation
Adjusted Subscription Gross Margin Non-GAAP Reconciliation ($'000,000), except % 12 Months Ended 3 Months Ended Dec 2020 Dec 2021 Dec 2022 Mar 2023 Subscription Service Revenue $31 $63 $97 $28 Subscription Service Gross Margin 10 24 50 14 Add back Amortization from Acquired and Internally Developed
Slide 16: Adjusted Subscription Gross Margin Non-GAAP Reconciliation
Adjusted Subscription Gross Margin Non-GAAP Reconciliation ($'000,000), except % 3 Months Ended Mar 2022 Mar 2023 Subscription Service Revenue $21 $28 Subscription Service Gross Margin 11 14 Add back Amortization from Acquired and Internally Developed Technology included in Subscription Service 5 6
Slide 17: Investment Thesis
Investment Thesis 1. Foodservice market ready for disruption • Large TAM in restaurants with ~1m locations in the US spending 2-3% of total revenue on technology1 • The industry shift to cloud technology has led to an explosion in new technology from Voice AI to marketing technology 2. Meeting marke
Slide 18: Key Performance Indicators
Key Performance Indicators • Annualized Recurring Revenue or "ARR” is the annualized revenue from subscription services, including subscription fees for our SaaS solutions, related software support, and transaction-based payment processing services. We calculate ARR by annualizing the monthly subscr
Slide 19: Thank You!
Thank You!